AMF Pensionsforsakring AB cut its stake in shares of Signature Bank (NASDAQ:SBNY) by 6.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 194,301 shares of the bank’s stock after selling 12,510 shares during the period. AMF Pensionsforsakring AB owned 0.35% of Signature Bank worth $27,581,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. IFG Advisory LLC bought a new stake in shares of Signature Bank during the fourth quarter valued at about $216,000. Calton & Associates Inc. bought a new stake in shares of Signature Bank during the fourth quarter valued at about $222,000. Fox Run Management L.L.C. bought a new stake in shares of Signature Bank during the fourth quarter valued at about $223,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of Signature Bank during the first quarter valued at about $261,000. Finally, Glenmede Trust Co. NA increased its position in shares of Signature Bank by 101.9% during the fourth quarter. Glenmede Trust Co. NA now owns 2,110 shares of the bank’s stock valued at $289,000 after buying an additional 1,065 shares during the period. Hedge funds and other institutional investors own 95.79% of the company’s stock.
Several equities research analysts have recently weighed in on SBNY shares. Jefferies Group reiterated a “buy” rating and set a $161.00 price target on shares of Signature Bank in a research report on Friday, April 20th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $181.00 price objective on shares of Signature Bank in a report on Tuesday, February 27th. TheStreet lowered Signature Bank from a “b” rating to a “c+” rating in a report on Friday, April 20th. Morgan Stanley cut their price objective on Signature Bank from $165.00 to $155.00 and set an “equal weight” rating for the company in a report on Tuesday, April 24th. Finally, UBS initiated coverage on Signature Bank in a report on Wednesday, March 21st. They set a “neutral” rating and a $163.00 price objective for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $158.40.
Shares of SBNY opened at $130.44 on Thursday. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.08 and a beta of 1.14. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 1.14. Signature Bank has a 1 year low of $116.68 and a 1 year high of $161.92.
Signature Bank (NASDAQ:SBNY) last issued its earnings results on Thursday, April 19th. The bank reported $2.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.67 by $0.02. The business had revenue of $325.35 million during the quarter, compared to analyst estimates of $328.88 million. Signature Bank had a return on equity of 13.29% and a net margin of 18.57%. During the same quarter in the prior year, the firm earned $2.48 earnings per share. sell-side analysts anticipate that Signature Bank will post 11.27 earnings per share for the current fiscal year.
Signature Bank Company Profile
Signature Bank provides various business and personal banking products and services. It accepts various deposit products, including commercial checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, interest-bearing and non-interest-bearing checking accounts, certificates of deposit, time deposits, and other cash management products.
Want to see what other hedge funds are holding SBNY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Signature Bank (NASDAQ:SBNY).
Receive News & Ratings for Signature Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Signature Bank and related companies with MarketBeat.com's FREE daily email newsletter.